Tag: mutual fund
Merrill Lynch to Pay $15 Million in Restitution to Settle FINRA...
The Financial Industry Regulatory Authority has censured and ordered Merrill Lynch to pay approximately $15.2 million ($13.4 million, plus interest) in restitution to customers...
City National Rochdale to Pay $30 Million to Settle SEC Charges...
The Securities and Exchange Commission reported that registered investment adviser City National Rochdale, LLC has agreed to pay more than $30 million to settle...
FINRA Fines Advisor Group’s Triad for “Risky” Alternative Mutual Fund Sales
The Financial Industry Regulatory Authority has censured and fined Triad Advisors, a broker-dealer within the Advisor Group network, for failing to reasonably supervise its...
Crown Capital Securities to Pay $1.6 Million to Settle SEC Charges
The Securities and Exchange Commission has ordered Crown Capital Securities LP, a dually registered investment adviser and broker-dealer, to pay nearly $1.6 million in...
Centaurus to Pay $1.3 Million to Settle SEC Charges
The Securities and Exchange Commission has ordered Centaurus Financial Inc., a dually registered investment adviser and broker-dealer, to pay nearly $1.3 million to settle...
FINRA Fines Three Broker-Dealers for Selling “Risky” Alternative Mutual Fund
The Financial Industry Regulatory Authority has censured and fined three broker-dealers, Cambridge Investment Research, Securities America, and J.W. Cole Financial, for failing to reasonably...
Transamerica to Pay $8.8 Million to Settle FINRA Charges
The Financial Industry Regulatory Authority has ordered Transamerica Financial Advisors Inc. to pay a $4.4 million fine, plus nearly $4.4 million in restitution after...
Altegris Co-Founder and Continuum Capital to Purchase Altegris from Artivest
Matt Osborne, the co-founder of Altegris and chief investment officer of Artivest, has formed a partnership with Continuum Capital Managers, to purchase alternative investment...
Massachusetts Fines Broker-Dealer Over Improper Mutual Fund Sales
The Massachusetts Securities Division has fined Janney Montgomery Scott LLC more than $286,000 and ordered the broker-dealer to pay nearly $164,000 in restitution to...
Next Financial to Refund $500,000 to Customers over Mutual Fund Sales
Texas-based broker-dealer Next Financial Group Inc. has agreed to refund $500,000 to customers of a former broker who moved clients in and out of...
FS Investments to Buy $1.8 Billion Investment Boutique
FS Investments, an alternative investment manager with more than $24 billion in assets under management, has agreed to purchase Chiron Investment Management, a global...
Cetera Names New Chief Executive Officer
Cetera Financial Group, a network of independent financial advisor firms, has appointed Adam Antoniades as chief executive officer and member of the board of...
SEC Adds Another Cetera Firm to Fraud Complaint
The Securities and Exchange Commission has amended a complaint to add Cetera Advisor Networks LLC, a registered investment adviser and broker-dealer, as a defendant...
SEC Orders 17 Advisory Firms to Pay $10 Million to Investors...
The Securities and Exchange Commission has settled charges against an additional 17 investment advisers for inadequate disclosures over their mutual fund share class selection...
SEC Charges Cetera Advisors with Defrauding Retail Advisory Clients
The Securities and Exchange Commission has charged Cetera Advisors LLC, a registered investment adviser and broker-dealer based in Denver, Colorado, with breaching its fiduciary...
SEC Charges Commonwealth with Failing to Disclose Conflicts on Revenue Sharing
The Securities and Exchange Commission has charged Commonwealth Financial Network, a registered investment adviser and broker-dealer that manages approximately $85 billion in client assets,...
Voya Escapes FINRA Fine for Self-Reporting Mutual Fund Share Overcharges
Voya Financial Partners dodged a possibly hefty fine after self-reporting to FINRA that it had sold higher sales load mutual fund shares to 143...
SEC Settles with 79 Investment Firms for Mutual Fund Sales, Firms...
The Securities and Exchange Commission has settled charges against 79 investment advisers that will return more than $125 million to clients, with a substantial...
Transamerica Entities to Pay $97 Million to Investors Over QI Model...
The Securities and Exchange Commission has charged four Transamerica entities for misconduct involving faulty investment models and ordered the entities to refund $97 million...
Phoenix American Hospitality Hires Regional Vice President of Sales for the...
Phoenix American Hospitality, a Dallas-based hotel fund manager, has hired Art Miller as its regional vice president of sales for the East Coast.
With more...
